Answered: Firm 1: C'(Q) = 300e® 1Q+2 TC= 3000…

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Firm 1: C'(Q) = 300e® 1Q+2 TC= 3000 when Q = 0 Firm 2: C'(Q) = 41 +30Q -5Q² TC =400 when Q = 0 (ii, (iii) aveo m

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 7.4IP

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Question

(a) The marginal cost of two firms are given by the following
| cost
Firm 1: C'(Q) = 300e® 1Q+2
TC= 3000 when Q = 0
Firm 2: C'(Q) = 41 +30Q -5Q²
TC =400 when Q = 0
(ii,
(iii)
avee
(iv)
Find the total cost for producing up to 100 units

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